TORONTO –
Dalradian Resources has raised a total of $84.75 million though a private placement and the exercise of warrants.
[caption id="attachment_1003720357" align="alignleft" width="238"]
High grade ore from the Curraghinalt gold project. (Credit: Dalradian Resources)[/caption]
Orion Mine Finance will invest $50 million to acquire 34.0 million Dalradian shares at a price of $1.47 each. Orion’s share of Dalradian will rise to 9.75%.
Osisko Gold Royalties will invest $28.25 million to purchase 19.2 million Dalradian shares at the same price, $1.47 each. Osisko also intends to exercise 6.25 million warrants at $1.04 each. When the deal closes, Osisko will hold 9.1% of Dalradian.
Dalradian says it plans to use the proceeds for “general working capital purposes.” Its flagship Curraghinalt gold project in Northern Ireland is in the permitting stage, with more work planned for exploration and to advance engineering.
More information is available at
www.Dalradian.com.
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